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ZaZa Ups Production 76.7%; Talks 2015 Outlook
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ZaZa Energy Corporation announced results for the year ended December 31, 2014.
2014 Financial Highlights: Total production of 231.6 Mboe as compared to 131.3 Mboe in 2013, a 76.7% increase. Proved reserves increased by ~47% to 1,011 Mboe. Revenues of $11.5 million as compared to $8.9 million in 2013, an increase of 29.2%. 33% reduction in G&A expenses and adjusted G&A expenses of $15.6 million.1 Net loss of $8.2 million as compared to a net loss of $67.6 million. Total debt declined by $6.7 million or ~7%. 2014 Year-End ResultsFor the year ended December 31, 2014, the Company reported total oil and gas revenues of $11.5 million, as compared to $8.9 million for the year ended December 31, 2013, an increase of approximately 29%. This was primarily due to production increases…
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